Bank, SSC & Govt Examshttps://www.imsindia.com/bank-exam/blog
Everything about Bank, Govt and SSC examsTue, 07 Nov 2017 11:11:54 +0000en-UShourly1https://wordpress.org/?v=4.4.13Top 4 Changes You Must Know in IBPS Mains Exam patternhttps://www.imsindia.com/bank-exam/blog/ibps-mains-exam-pattern-changes/
https://www.imsindia.com/bank-exam/blog/ibps-mains-exam-pattern-changes/#respondMon, 09 Oct 2017 08:07:58 +0000http://www.imsindia.com/bank-exam/blog/?p=572In the last few days we at IMS have been flooded with panic calls regarding the change in the IBPS Mains Pattern and trust me, I am not surprised. But isn’t it much ado about nothing? We humans have always been slaves of routine. We like to do things the same way it has been done for eons. We hate change and even a minor one can create ruckus in our lives. However change is mostly not in our hands and often not favourable to us. We just have to deal with it positively! Moreover the same change is applicable to all candidates and not just you. It’s an even game! What has changed and how do you deal with the changes? Number of questions has decreased from 200 to 155 and the total time allotted to attempt the objective test has increased from 140 to 180 minutes. This basically means good news for those students who have sincerely prepared for the exam. It suggests the exam is veering away from being a speed-based test to one which tests the student on the understanding of fundamental concepts of the subject. The increased time limit probably indicates a marginal increase in the difficulty level of the questions. Basically that would mean it tests real subject knowledge and not tricks and techniques which are memorised by students without a real understanding of the underlying concepts. Taking a cricket analogy, it is easier for a Team like Afghanistan to upset Team India in a limited overs match than in test cricket because the latter tests the skills of the team more. Similarly a student who has prepared well for the exam has a better chance of clearing it this time around. There are lesser chances that he or she will be pipped to the post by someone who just got lucky on the exam day. Descriptive Writing has been reintroduced in the mains carrying a weightage of 25 marks to be attempted in 30 minutes This is also not something entirely new. It has been part of the exam in the past and it just made a comeback this year. Moreover those of you have prepared for the SBI exam would have already practised your essays/ letters. Separate section for Data Analysis & Interpretation has been introduced in the Mains This area was anyway part of the syllabus even earlier (just that it was not a separate section) and the adage in the mains is to prepare on all areas and try to score as high as possible irrespective of weightage or marks allotted to each area (since the marks scored in the Mains is considered for final selection). So whether a certain area carries a weightage of 2 marks or 20, you have to give your 100% towards your preparation. 4. Time allotted to various sections has changed What you will have to focus on to get used to the change in time limits, is to attempt a lot of mock tests to get used […]

]]>In the last few days we at IMS have been flooded with panic calls regarding the change in the IBPS Mains Pattern and trust me, I am not surprised. But isn’t it much ado about nothing?

We humans have always been slaves of routine. We like to do things the same way it has been done for eons. We hate change and even a minor one can create ruckus in our lives.

However change is mostly not in our hands and often not favourable to us. We just have to deal with it positively!

Moreover the same change is applicable to all candidates and not just you. It’s an even game!

What has changed and how do you deal with the changes?

Number of questions has decreased from 200 to 155 and the total time allotted to attempt the objective test has increased from 140 to 180 minutes.

This basically means good news for those students who have sincerely prepared for the exam. It suggests the exam is veering away from being a speed-based test to one which tests the student on the understanding of fundamental concepts of the subject.

The increased time limit probably indicates a marginal increase in the difficulty level of the questions.

Basically that would mean it tests real subject knowledge and not tricks and techniques which are memorised by students without a real understanding of the underlying concepts.

Taking a cricket analogy, it is easier for a Team like Afghanistan to upset Team India in a limited overs match than in test cricket because the latter tests the skills of the team more. Similarly a student who has prepared well for the exam has a better chance of clearing it this time around. There are lesser chances that he or she will be pipped to the post by someone who just got lucky on the exam day.

Descriptive Writing has been reintroduced in the mains carrying a weightage of 25 marks to be attempted in 30 minutes

This is also not something entirely new. It has been part of the exam in the past and it just made a comeback this year. Moreover those of you have prepared for the SBI exam would have already practised your essays/ letters.

Separate section for Data Analysis & Interpretation has been introduced in the Mains

This area was anyway part of the syllabus even earlier (just that it was not a separate section) and the adage in the mains is to prepare on all areas and try to score as high as possible irrespective of weightage or marks allotted to each area (since the marks scored in the Mains is considered for final selection). So whether a certain area carries a weightage of 2 marks or 20, you have to give your 100% towards your preparation.

4. Time allotted to various sections has changed

What you will have to focus on to get used to the change in time limits, is to attempt a lot of mock tests to get used to the new format.

So to summarise, this change in pattern basically augurs well for the student who has prepared well for the exam. So leave aside your worries and give it your 100%. All the best!

Appendix

Here is a detailed comparison of the IBPS PO Mains Objective Test patterns for 2016 and 2017.

]]>https://www.imsindia.com/bank-exam/blog/ibps-mains-exam-pattern-changes/feed/0RBI maintains a steady canterhttps://www.imsindia.com/bank-exam/blog/rbi-maintains-steady-canter/
https://www.imsindia.com/bank-exam/blog/rbi-maintains-steady-canter/#respondMon, 08 May 2017 07:23:30 +0000http://www.imsindia.com/bank-exam/blog/?p=509The First Bi-Monthly Policy Statement for fiscal 2017-18 was released by the Reserve Bank of India (RBI) on April 6, 2017. The Repo Rate under the Liquidity Adjustment Facility (LAF) was kept unchanged at 6.25%. As a consequence, the reverse repo rate remains pegged at 6%, the Bank Rate and Marginal Standing Facility (MSF) Rate are both unchanged at 5%. Refresh Your Knowledge: Repo Rate: The rate at which the RBI lends to commercial banks. Reverse Repo Rate: The rate at which commercial banks place their surplus funds with the RBI. MSF: A facility for banks to borrow more funds beyond what they have already borrowed from the RBI through the repo facility. Bank Rate: The rate at which the RBI lends to commercial banks. Cash Reserve Ratio (CRR): A percentage of total funds held by commercial banks that has to be parked with the RBI. Statutory Liquidity Ratio (SLR): A percentage of Net Demand & Time Liabilities (NDTL) held by commercial banks that has to be invested by the banks in gold, treasury bills, unencumbered central & state government securities and government guaranteed bonds. Therefore, the current rates from April 6, 2017 are as follows: Repo Rate: 6.25% Reverse Repo Rate: 6.00% MSF Rate : 6.50% Bank Rate: 6.50% CRR: 4.00% SLR: 20.50% In short, the RBI has not tinkered with the Repo Rate this time. The Reverse Repo Rate has been adjusted to 6%. Known for its cautious approach, the RBI aims at achieving a 4% rate with respect to the Consumer Price Index (CPI). This is its medium-term target. There could be a variance of plus or minus 2% which is expected. In addition, the central bank has also to squeeze out the excess liquidity in the economy. Global radar: RBI keeps watch The RBI keeps a continuous tab on major international economies throughout the year. As an aspiring banking professional, it is extremely important for you to understand that the policies followed in India cannot be made on a standalone basis. India is no longer isolated and insulated from the economic vagaries of developed and emerging economies. India’s economic policies have to be in tandem with global trends. For this purpose, bankers have to be aware and alert of economic developments across the world. How quickly you rise in your career as a remarkable banking professional depends on how updated you are vis-à-vis global economies. The United States of America The RBI has observed that there is a semblance of recovery in the United States of America, in the first three months of 2017. Parameters measuring indexes of labour markets, industrial production, and retail sales indicate recovering trends. Europe In Europe, the RBI has noted that employment rate is rising. Consumer confidence has increased. The barometer of growth, i.e. Manufacturing Purchase Manager’s Index (PMI) was at a six-year high in March 2017. Japan Even in the gloomy Japanese economy, there has been a fall in unemployment numbers. Japanese exports have been steadily increasing. This could be aided […]

]]>The First Bi-Monthly Policy Statement for fiscal 2017-18 was released by the Reserve Bank of India (RBI) on April 6, 2017. The Repo Rate under the Liquidity Adjustment Facility (LAF) was kept unchanged at 6.25%. As a consequence, the reverse repo rate remains pegged at 6%, the Bank Rate and Marginal Standing Facility (MSF) Rate are both unchanged at 5%.

Refresh Your Knowledge:

Repo Rate: The rate at which the RBI lends to commercial banks.

Reverse Repo Rate: The rate at which commercial banks place their surplus funds with the RBI.

MSF: A facility for banks to borrow more funds beyond what they have already borrowed from the RBI through the repo facility.

Bank Rate: The rate at which the RBI lends to commercial banks.

Cash Reserve Ratio (CRR): A percentage of total funds held by commercial banks that has to be parked with the RBI.

Statutory Liquidity Ratio (SLR): A percentage of Net Demand & Time Liabilities (NDTL) held by commercial banks that has to be invested by the banks in gold, treasury bills, unencumbered central & state government securities and government guaranteed bonds.

Therefore, the current rates from April 6, 2017 are as follows:

Repo Rate:

6.25%

Reverse Repo Rate:

6.00%

MSF Rate :

6.50%

Bank Rate:

6.50%

CRR:

4.00%

SLR:

20.50%

In short, the RBI has not tinkered with the Repo Rate this time. The Reverse Repo Rate has been adjusted to 6%. Known for its cautious approach, the RBI aims at achieving a 4% rate with respect to the Consumer Price Index (CPI). This is its medium-term target. There could be a variance of plus or minus 2% which is expected. In addition, the central bank has also to squeeze out the excess liquidity in the economy.

Global radar: RBI keeps watch

The RBI keeps a continuous tab on major international economies throughout the year. As an aspiring banking professional, it is extremely important for you to understand that the policies followed in India cannot be made on a standalone basis. India is no longer isolated and insulated from the economic vagaries of developed and emerging economies. India’s economic policies have to be in tandem with global trends. For this purpose, bankers have to be aware and alert of economic developments across the world. How quickly you rise in your career as a remarkable banking professional depends on how updated you are vis-à-vis global economies.

The United States of America

The RBI has observed that there is a semblance of recovery in the United States of America, in the first three months of 2017. Parameters measuring indexes of labour markets, industrial production, and retail sales indicate recovering trends.

Europe

In Europe, the RBI has noted that employment rate is rising. Consumer confidence has increased. The barometer of growth, i.e. Manufacturing Purchase Manager’s Index (PMI) was at a six-year high in March 2017.

Japan

Even in the gloomy Japanese economy, there has been a fall in unemployment numbers. Japanese exports have been steadily increasing. This could be aided by the depreciation of the value of the Yen (Japanese currency). The RBI has noted that despite this hope of revival in the Japanese economy, there is still a danger of deflation hovering over that country.

China

On the other hand, the RBI observed strong growth indications from economic parameters emerging from China. Business is booming in China. Credit growth (i.e. the demand for funds by business enterprises from lending institutions) is rising. This indicates that businesses are craving for more money as they are struggling to cater to the demands of their markets in terms of supply of goods and services. The real estate market in China is doing extremely well. Such a buoyant environment is also fuelled by positive and supportive policies laid out by the Chinese government. Notwithstanding all the bullishness emanating from China, the RBI also took into account, the concerns on financial stability and capital outflows in China.

Brazil

Brazil, on the other hand, is on a recovery tangent. The Brazilian Government is taking major steps to revive their economy from the abyss of recession. However, the economy is fragile at present, despite a gradual rise in commodity prices.

Russia

Russia is another major economy recovering from an economic setback in the last two years. A nascent recovery in its economy has been observed from PMI data. The Russian economy was dealt a double blow a couple of years ago when oil prices crashed as well as sanctions were placed against it by Western countries for political reasons. Presently, a gradual pickup in exports from Russia and rising oil prices, have given a ray of hope to the one-time superpower. The RBI expects Russia to clock positive rates of growth in 2017.

Inflationary trends

Growth is invariably accompanied by inflation. Exports are rising strongly in several Advanced Economies (AE) as well as Emerging Market Economies (EME). The RBI has observed that inflationary trends are evident in the above advanced economies. Even countries clubbed under EME like Turkey and South Africa have fallen victims to the pressures of inflation.

Hawk-eyed approach

The RBI keeps a hawk-eyed watch on international equity and currency markets all the time. It notes that while mixed trends have been seen in EMEs, the AEs have been performing stronger in equities owing to geopolitical events and country-specific factors.

India: CSO data allays fears

Having analysed the international scenario, it is understood that the RBI mandates policies fit for the Indian scenario. The Central Statistical Organisation (CSO) provides economic data on the state of the economy periodically. The CSO has revised its estimate of India’s real GVA growth rate to 6.70%, down from the earlier estimate of 7%.

Ray of hope

After two consecutive years of poor growth rates, agriculture has shown robust surge this year. However, the laggards have been the industrial production and the services sector.

Food blockbuster

The RBI is positive in its outlook, considering that food production is at an all-time high (272 million tons). The kharif season procurement seems to have boosted this number, which was earlier hovering close to our national buffer stock. The output of pulses has been at 20 lakh tons, which has helped in providing food security. Consequently, it is expected that market prices of food grains will fall owing to the bumper production.

Tepid industry

Industrial growth in India has been tepid. Despite an improvement in capital goods production, consumer non-durables, investment, and rural consumption show a discouraging performance. Based on the PMI data, the RBI expects overall business sentiment to improve in the first quarter of this fiscal (April-June 2017. Fiscal means financial year, which begins from April and ends in March of the subsequent year). However, the RBI has raised a caveat (i.e. warning or caution) that if production capacities of enterprises remain under-utilised, then there could be a drop in fresh capital investment. This could eventually bring down growth rates if not attended to.

Services look up

The RBI also monitors the services sector in India closely. Parameters like railway traffic, telephone subscribers, foreign tourist arrivals, passenger and commercial vehicle sales are observed to derive the growth trajectory. The RBI observed that after previous three months of depression in the services industry, the PMI data for February and March 2017 have indicated that there is an ascent in the growth rate of this industry.

CPI raises its hood

Retail inflation, as measured by the Consumer Price Index (CPI) has been hardening over the quarter. This is owing to rise in prices of sugar, fruits, meat, fish, milk and processed foods. Since a major chunk of Liquefied Petroleum Gas (LPG) is imported, prices of this food lifeline has risen in tandem with rising international fuel prices. On the other hand, the Government has embarked upon a structured programme to reduce subsidy on kerosene. In other words, a bulk of the cost of imported kerosene was earlier borne by the government. So the consumers of kerosene had to pay only a part of the cost. This is a social measure undertaken by the government to ensure that people below the poverty line, who majorly use kerosene as a cooking fuel, are not impacted by the volatility of international oil prices. This measure is now slowly being withdrawn by the government. The impact of this will be that the consumer will have to pay a higher price for the fuel. As a counter measure, the Government encourages the use of LPG and Bio Fuel as cooking media, hoping to wean away the masses from its reliance on kerosene.

Corporate conundrum

In the corporate sector, the RBI notes that there is a pressure on corporate profits. This is due to increase in costs. In order to maintain profit margins, the RBI expects corporates to raise prices since they would not be able to control input costs. Exports have been growing, especially engineering goods, petroleum products, iron ore, rice, and chemicals. Overall, the current account deficit is expected to remain at less than 1% of Gross Domestic Product (GDP). Foreign Portfolio Investments (FPI) have shown growing trends in February and March 2017. According to the RBI, this is due to domestic economic and political conditions in India. As a consequence, this is building up the confidence of overseas investors in India’s growth story.

RBI leads the way forward

For the coming quarter, the RBI has taken the following outlook, based on the above developments:

CPI Inflation is expected to be below 5% in 2017-18.

The onset of southwest monsoon season is uncertain owing to the expected El-Nino event around July-August. Food inflation could raise its ugly head at this time.

Implementation of the payouts of the 7th Central Pay Commission recommendations could lead to a rise in CPI inflation.

Implementation of GST is also expected to lead to a rise in CPI inflation.

The government deficit is expected to worsen owing to farm loan waivers.

GVA growth is expected to strengthen to 7.40% in 2017-18 as compared to 6.70% in 2016-17.

The Monetary Policy Committee (MPC) prefers to wait and watch the global and domestic developments before embarking on a control-based stance.

The RBI will endeavour to resolve the grim situation of stressed bank assets firmly and simultaneously provide a congenial atmosphere for the revival of bank credit.

So, in conclusion, we can say that the RBI has moved along expected lines. It remains to be seen how well the central bank tackles the risks mentioned above. With Governor Urjit Patel’s fourth policy review statement since he took charge, his reputation as an astute banker and far-sighted professional gains currency.

]]>https://www.imsindia.com/bank-exam/blog/rbi-maintains-steady-canter/feed/0Disruption determines domination in cab industryhttps://www.imsindia.com/bank-exam/blog/disruption-determines-domination-industry/
https://www.imsindia.com/bank-exam/blog/disruption-determines-domination-industry/#respondFri, 07 Apr 2017 13:26:55 +0000http://www.imsindia.com/bank-exam/blog/?p=487Hailing a cab in Mumbai was a challenge until recent times. A few years back, I remember having to almost fall to my knees pleading snooty cabbies to agree to drive me to a destination of my choice. Choice? Huh! The scene usually is that, if your destination happens to be on his intended route, consider yourself lucky. Else, enjoy the brutal sun on the kerb till your legs scream. If your destination is not very far off, the look you’ll get will drive you to shame. And so on that fateful day, most of the disdainful taxi drivers wouldn’t even bother to acknowledge my desperate hand aerobics, assuming I wasn’t fit to sit in their exalted vehicles. The attitude of their lesser brethren, the auto rickshaw drivers, was much more demeaning. The time was ripe for a disruption to occur. Disruption triggered! Enter Ola! The scene changed drastically. Air conditioned, chauffeur driven cars of your choice at heavily competitive fares. Door-to-door service with GPS tracking and secure payment options. What more could one ask for. Today, the dust thickens on the dashboards of the kaali-peeli cabs as they wait eagerly to grab the first customer willing to compromise and avail their ramshackle excuse-in-the-name-of-a-car! Telecom me too! Disruption is the name of the game. Jio did an Ola in the telecom industry recently. The existing players have rudely been awakened from their stupor by Jio’s avalanche of freebies. In their scramble to retain market share, some are going ahead with mergers and acquisitions. First off the block is the Vodafone-Idea merger. The proposed merger will make the combine the largest telecom operator in India. In the merged entity, Vodafone is expected to keep 45% stake, while Idea will hold 26%. The rest is held by the public. What’s in it for YOU? YOU will retain your throne. Cellphone companies are expected to fall over each other to be your preferred service provider. Bask in the spotlight for a couple of years. But expect more marketing calls with the familiar line: “Ma’am, we are offering you 100 gb data free along with 1 million calls, interested?” As far as phone services go, nothing changes. You will continue to use existing services as before. Call quality may or may not improve. My guess is as good as yours. The merged entity will encompass all subscribers of both, Vodafone and Idea. You can expect a price war which will save you a lot of money as compared to what you pay now. Technology is expected to leap forward. In order to retain its combined portfolio of 400 million customers, the merged entity could accelerate adoption of 5G quickly. Mobile service providers are expected to bleed. In their over enthusiasm to remain ahead, there maybe rampant under-cutting of services provided. You will gain from more value added services at lower or zero costs. If you work for either Idea or Vodafone, mind your backside. When resources of two huge companies merge, downsizing is imminent, owing […]

]]>Hailing a cab in Mumbai was a challenge until recent times. A few years back, I remember having to almost fall to my knees pleading snooty cabbies to agree to drive me to a destination of my choice. Choice? Huh!

The scene usually is that, if your destination happens to be on his intended route, consider yourself lucky. Else, enjoy the brutal sun on the kerb till your legs scream. If your destination is not very far off, the look you’ll get will drive you to shame. And so on that fateful day, most of the disdainful taxi drivers wouldn’t even bother to acknowledge my desperate hand aerobics, assuming I wasn’t fit to sit in their exalted vehicles. The attitude of their lesser brethren, the auto rickshaw drivers, was much more demeaning. The time was ripe for a disruption to occur.

Disruption triggered!

Enter Ola! The scene changed drastically. Air conditioned, chauffeur driven cars of your choice at heavily competitive fares. Door-to-door service with GPS tracking and secure payment options. What more could one ask for. Today, the dust thickens on the dashboards of the kaali-peeli cabs as they wait eagerly to grab the first customer willing to compromise and avail their ramshackle excuse-in-the-name-of-a-car!

Telecom me too!

Disruption is the name of the game. Jio did an Ola in the telecom industry recently. The existing players have rudely been awakened from their stupor by Jio’s avalanche of freebies. In their scramble to retain market share, some are going ahead with mergers and acquisitions. First off the block is the Vodafone-Idea merger. The proposed merger will make the combine the largest telecom operator in India. In the merged entity, Vodafone is expected to keep 45% stake, while Idea will hold 26%. The rest is held by the public.

What’s in it for YOU?

YOU will retain your throne. Cellphone companies are expected to fall over each other to be your preferred service provider. Bask in the spotlight for a couple of years. But expect more marketing calls with the familiar line: “Ma’am, we are offering you 100 gb data free along with 1 million calls, interested?”

As far as phone services go, nothing changes. You will continue to use existing services as before. Call quality may or may not improve. My guess is as good as yours.

The merged entity will encompass all subscribers of both, Vodafone and Idea.

You can expect a price war which will save you a lot of money as compared to what you pay now.

Technology is expected to leap forward. In order to retain its combined portfolio of 400 million customers, the merged entity could accelerate adoption of 5G quickly.

Mobile service providers are expected to bleed. In their over enthusiasm to remain ahead, there maybe rampant under-cutting of services provided. You will gain from more value added services at lower or zero costs.

If you work for either Idea or Vodafone, mind your backside. When resources of two huge companies merge, downsizing is imminent, owing to surplus. Unless you are more than justifying your salary, you could be shown the door soon enough. For all the jazz that the company managements give at present, eventually, they have to service a debt of more than 1 lakh crore. Cost rationalisation is definitely expected.

The entire merger exercise is expected to be completed by end of 2018. Until then, you as a customer can make the most of the innumerable new plans these players come up with. Enjoy the ride!

]]>https://www.imsindia.com/bank-exam/blog/disruption-determines-domination-industry/feed/0Supreme Court’s fatwa: Ban on BS-III vehicleshttps://www.imsindia.com/bank-exam/blog/supreme-courts-fatwa-ban-bs-iii-vehicles/
https://www.imsindia.com/bank-exam/blog/supreme-courts-fatwa-ban-bs-iii-vehicles/#respondTue, 04 Apr 2017 13:09:04 +0000http://www.imsindia.com/bank-exam/blog/?p=494The BS-III Chapter finally ended arbitrarily. All roads led to two-wheeler dealers, for the last two days of March. Dealers were flooded with inquiries, so much that they had to hire additional staff to answer prospective customers. Crowded showrooms, frantic sales associates struggling to handle three to four customers at a time… total chaos. It happens only in India! If you’re wondering what this ruckus was all about, welcome to the great Indian bazaar. In this country, when the apex court banned sale of a specific generation of two-wheelers in the interest of public health, the repercussion became euphoric, contrary to the expectations. Immediately, there was a mad scramble to buy precisely the same vehicle which had been banned from sale, leaving economists and environmentalists scratching their balding pates! This can happen only in India! What triggered this flutter? The Supreme Court banned the sale and registration of all vehicles that are not compliant with the Bharat Stage (BS) – IV emission norms with effect from 1st April, 2017. Justices Madan B Lokur and Deepak Gupta announced the judgement on 30th March 2017. The automobile industry was taken aback. They had an unsold inventory of more than eight lakh vehicles, mostly two-wheelers. With just two days to dispose the unsold stock, the dealers’ network went into a tizzy. Sales teams churned out flash discounts from Rs 10,000/- to 50,000/-, depending upon the model, to lure customers. One dealer in Mumbai was even compelled to call in the cops to manage the frenzy! What a brazen example of our love for discounts and freebies! Dangerous emissions: BS-III – a risk to public health The crux of the issue was that BS-III vehicles use a mechanical fuel pump. This contraption generates polluting gasses owing to inefficient fuel utilisation. Toxic gasses spewed out by these vintage mechanisms include carbon monoxide, nitrous oxide and many more particulate emissions, which are highly detrimental to public health. The automobile lobby submitted to the Supreme Court that the ban was not justified as the manufacturers had not been restricted from making BS-III vehicles up to 31st March 2017. Hence, banning the sale and registration abruptly from 1st April 2017 would lead to huge unsold inventories. The lobby pleaded for time to clear their stocks in the market, which was promptly denied by the Supreme Court. The learned Amicus Curiae (an impartial advisor to a court of law) highlighted the deeply damaging impact on public health as a result of the rising pollution levels in the country. The auto lobby knew it was coming It is not that the decision came as a bolt from the blue for the automobile industry. It was already declared, as far as in 2010, that the ban on BS-III vehicles shall apply from April 2017. The Government of India assured the Supreme Court that the required quality of fuel for BS-IV compliant vehicles shall be made available across the country from 1st April 2017. Owing to this assurance, the Supreme Court had decided to place […]

]]>The BS-III Chapter finally ended arbitrarily. All roads led to two-wheeler dealers, for the last two days of March. Dealers were flooded with inquiries, so much that they had to hire additional staff to answer prospective customers. Crowded showrooms, frantic sales associates struggling to handle three to four customers at a time… total chaos.

It happens only in India!

If you’re wondering what this ruckus was all about, welcome to the great Indian bazaar. In this country, when the apex court banned sale of a specific generation of two-wheelers in the interest of public health, the repercussion became euphoric, contrary to the expectations. Immediately, there was a mad scramble to buy precisely the same vehicle which had been banned from sale, leaving economists and environmentalists scratching their balding pates! This can happen only in India!

What triggered this flutter?

The Supreme Court banned the sale and registration of all vehicles that are not compliant with the Bharat Stage (BS) – IV emission norms with effect from 1st April, 2017. Justices Madan B Lokur and Deepak Gupta announced the judgement on 30th March 2017. The automobile industry was taken aback. They had an unsold inventory of more than eight lakh vehicles, mostly two-wheelers. With just two days to dispose the unsold stock, the dealers’ network went into a tizzy. Sales teams churned out flash discounts from Rs 10,000/- to 50,000/-, depending upon the model, to lure customers. One dealer in Mumbai was even compelled to call in the cops to manage the frenzy! What a brazen example of our love for discounts and freebies!

Dangerous emissions: BS-III – a risk to public health

The crux of the issue was that BS-III vehicles use a mechanical fuel pump. This contraption generates polluting gasses owing to inefficient fuel utilisation. Toxic gasses spewed out by these vintage mechanisms include carbon monoxide, nitrous oxide and many more particulate emissions, which are highly detrimental to public health.

The automobile lobby submitted to the Supreme Court that the ban was not justified as the manufacturers had not been restricted from making BS-III vehicles up to 31st March 2017. Hence, banning the sale and registration abruptly from 1st April 2017 would lead to huge unsold inventories. The lobby pleaded for time to clear their stocks in the market, which was promptly denied by the Supreme Court.

The learned Amicus Curiae (an impartial advisor to a court of law) highlighted the deeply damaging impact on public health as a result of the rising pollution levels in the country.

The auto lobby knew it was coming

It is not that the decision came as a bolt from the blue for the automobile industry. It was already declared, as far as in 2010, that the ban on BS-III vehicles shall apply from April 2017. The Government of India assured the Supreme Court that the required quality of fuel for BS-IV compliant vehicles shall be made available across the country from 1st April 2017. Owing to this assurance, the Supreme Court had decided to place public health on top of its priority list and enforce the ban on vehicles not compliant with BS-IV norms as predetermined from 1st April 2017 onward. The Court further ordered the vehicle registration authorities to decline registration of vehicles that are not compliant with BS-IV emission standards. The only leeway given in this regard is that if sufficient proof is provided to the authorities that the vehicle was purchased on or before 31st March 2017, then the registration of the said vehicle shall be permitted.

Now this throws up another question. What happens to used BS-III vehicles re-sold after 31st March 2017?

Target BS-VI

This question can be answered by considering another significant potential milestone. The Government plans to implement BS-VI with effect from 1st April 2020. This means BS-V norms would be bypassed and BS-VI would be directly enforced from the current BS-IV. So, the vehicles you plan to buy in this mega sale window may not be more than the junk value in 2020. At the same time, the Government also plans to introduce a policy for scrapping obsolete vehicles. If this policy comes into force, there would be an exit route for disposing the redundant vehicles.

Meanwhile, first off the block in this race to completely shift production to BS-IV compliant vehicles was our desi Maruti Udyog. The Company proactively switched over to BS-IV standards much earlier. As a consequence, MUL faces the least heat owing to the above fatwa. The others are in a race to liquidate their inventories. Hence the gala sale craze that was unleashed in the last few days of March.

What should you do?

If you have been procrastinating to buy a two-wheeler for ages, you could buy a BS-III compliant two-wheeler at heavily discounted prices in this Sale Mela. But Caveat Emptor principle prevails – beware of ending up with a lemon. Verify the manufacturer’s invoice for the date of sale. It has to be on or before 31st March 2017.

Driving/ riding a BS-III vehicle will not pose any issues. Fuel available for BS-IV vehicles is also compatible for BS-III vehicles. Besides, there is no restriction as of now on mobility.

Once you’ve got tired of the vehicle, you can also sell it within the state in which you bought it. Transfer of name is possible without having to re-register the vehicle. However, if you move to a state different from the one in which you bought the vehicle, you will not be able to get it registered in the new state. In short, resale of the vehicle will be restricted to the state in which it was bought.

Hold your horses!

So pause and think. Do you really need that two-wheeler desperately? Are you willing to buy a safer and more fuel efficient vehicle in a few days or months? Are you sincerely concerned about the poisonous air you and all of us breathe? Are the discounts so attractive that you are blinded by the offers?

]]>https://www.imsindia.com/bank-exam/blog/supreme-courts-fatwa-ban-bs-iii-vehicles/feed/0ATM transaction charges go through the roof!https://www.imsindia.com/bank-exam/blog/atm-transaction-charges-go-through-the-roof/
https://www.imsindia.com/bank-exam/blog/atm-transaction-charges-go-through-the-roof/#respondThu, 09 Mar 2017 10:20:29 +0000http://www.imsindia.com/bank-exam/blog/?p=470The school bus screeched to a halt outside the ATM next to the building gate. Out hopped Rahul, behind his two classmates, all racing towards their homes with their overloaded backpacks and dangling water bottles. Darting up the stairs, Rahul sprung on his toes to reach for the door bell. His watch screamed 2.00 pm. Time for his favourite show, Doremon! After a couple of rings, the maid opened the door to find nobody outside. Huh? The maid looked around puzzled. But the doorbell did ring! “What are you looking at? I’m here!” exclaimed Rahul from inside the drawing room. Lightning speed! That’s how he darted in, leaving the maid flabbergasted. “Switch on the TV, my favourite TV show is coming up!” he said shrugging off his bag, water bottle and uniform, all higgledy piggledy on the floor. The maid smiled and handed him the remote control. Rahul pressed the power button, fidgeting impatiently as the TV came to life. He quickly punched the channel number of his favourite cartoon channel. “This channel is locked!” came up on the screen. “What?” cried Rahul. He turned to the maid, stricken. “What happened to my channel?” he asked. “Rahul Baba, your mother has locked all your channels and I do not know the password. She has strictly told me that you have to study well and get better marks in the coming exams. That is the cost you have to pay for playing and watching TV all the time. Nothing comes for free, Rahul Baba. You have to earn your privileges. You have got very poor marks in the previous exams. Now pay the price!” the maid smirked as a glum Rahul sank into the sofa. There is no such thing as a free lunch! Everything has a cost. This seems to be the line banks have adopted while raising charges for multiple ATM transactions above a limit. Four bankc — HDFC Bank, ICICI Bank, Axis Bank and State Bank of India — have bolted off the block to raise the charges. And the rest will soon follow suit. During the turbulent days immediately after demonetisation was announced, all banks had waived the ATM charges as a goodwill measure. Now that the dust has settled, banks appear to be going back to their old ways. Broadly, the schedule of charges looks like this: HDFC Bank ICICI Bank Axis Bank State Bank of India Free ATM transactions per month Four across all ATMs. Four at home branch only. Free up to Rs 1 lakh per month at home branch only. First Five cash transactions up to Rs 10 lakh are free. Free up to 5 transactions at SBI ATMs and three transactions in non-SBI ATMs. Charges Beyond free ATM transactions Rs 5 per thousand, minimum Rs 150. Rs 5 per thousand, minimum Rs 150. Rs 5 per thousand, minimum Rs 150. Rs 10 per transaction at SBI ATMs, and Rs 20 per transaction in non-SBI ATMs. Hiking ATM transaction charges seems to be a […]

]]>The school bus screeched to a halt outside the ATM next to the building gate. Out hopped Rahul, behind his two classmates, all racing towards their homes with their overloaded backpacks and dangling water bottles.

Darting up the stairs, Rahul sprung on his toes to reach for the door bell. His watch screamed 2.00 pm. Time for his favourite show, Doremon!

After a couple of rings, the maid opened the door to find nobody outside.

“Switch on the TV, my favourite TV show is coming up!” he said shrugging off his bag, water bottle and uniform, all higgledy piggledy on the floor.

The maid smiled and handed him the remote control.

Rahul pressed the power button, fidgeting impatiently as the TV came to life. He quickly punched the channel number of his favourite cartoon channel. “This channel is locked!” came up on the screen. “What?” cried Rahul.

He turned to the maid, stricken. “What happened to my channel?” he asked.

“Rahul Baba, your mother has locked all your channels and I do not know the password. She has strictly told me that you have to study well and get better marks in the coming exams. That is the cost you have to pay for playing and watching TV all the time. Nothing comes for free, Rahul Baba. You have to earn your privileges. You have got very poor marks in the previous exams. Now pay the price!” the maid smirked as a glum Rahul sank into the sofa.

There is no such thing as a free lunch!

Everything has a cost. This seems to be the line banks have adopted while raising charges for multiple ATM transactions above a limit. Four bankc — HDFC Bank, ICICI Bank, Axis Bank and State Bank of India — have bolted off the block to raise the charges. And the rest will soon follow suit.

During the turbulent days immediately after demonetisation was announced, all banks had waived the ATM charges as a goodwill measure. Now that the dust has settled, banks appear to be going back to their old ways.

Broadly, the schedule of charges looks like this:

HDFC Bank

ICICI Bank

Axis Bank

State Bank of India

Free ATM transactions per month

Four across all ATMs.

Four at home branch only.

Free up to Rs 1 lakh per month at home branch only. First Five cash transactions up to Rs 10 lakh are free.

Free up to 5 transactions at SBI ATMs and three transactions in non-SBI ATMs.

Charges Beyond free ATM transactions

Rs 5 per thousand, minimum Rs 150.

Rs 5 per thousand, minimum Rs 150.

Rs 5 per thousand, minimum Rs 150.

Rs 10 per transaction at SBI ATMs, and Rs 20 per transaction in non-SBI ATMs.

Hiking ATM transaction charges seems to be a case of killing two birds with one stone for the banks. At the back end, the banks will be able to recoup transactional costs as well as instill a sense of discipline and planning among its customers. And secondly, the push towards digitalisation of the economy will definitely get a leg up by this measure.

So what should you do now?

Plan your cash payouts for the month in advance.

Visit the ATM as sparingly as possible.

Withdraw enough money to last atleast a whole week or ten days.

Use your debit cards, online portals and wallets more often for payments.

Last but not the least, keep a close watch on your bank account transactions.

Poor Rahul! Little does he realise that this reprimand will be a lesson for life. There are multiple ways to teach discipline to one, whether a kid or an adult. The banks know too well how to do that for sure!

]]>https://www.imsindia.com/bank-exam/blog/atm-transaction-charges-go-through-the-roof/feed/0Celebrating The Modern Durgahttps://www.imsindia.com/bank-exam/blog/celebrating-modern-durga/
https://www.imsindia.com/bank-exam/blog/celebrating-modern-durga/#commentsTue, 07 Mar 2017 12:22:21 +0000http://www.imsindia.com/bank-exam/blog/?p=460On the last day of Durga Puja, the grand and imposing idol of the goddess inched its way slowly on Red Road, Kolkata, amidst a sea of humanity. Volunteers danced with gay abandon to the sound of drums, bells and brasses and a riot of colours. Ma Durga looked resplendent. Accompanied by Saraswati, Lakshmi, Kartik and Ganesh, Ma Durga looked resplendent in all her glorious fineries. In Her ten hands, She holds myriad weapons viz. the trident, discus, conch and noose, spear, arrows, sword and shield, axe and armour, thunderbolt, and also a lotus. A majestic lion accompanies Her in an aggressive stance. Millions of onlookers watch with awe Her magnificent demeanour. Ma Durga is believed to be the symbolic controller of all sources of energy in the universe. With the third eye on her forehead immaculately camouflaged by a tiara and maang tikka, Ma Durga is symbolic of the multifarious capabilities and power of womanhood. As in mythology, Ma Durga also happens to be the quintessential modern woman in today’s times. With her mythical ten hands, she handles a huge repertoire of tasks, duties, responsibilities, ambitions, dreams, commitments, aspirations, adulation, love, fear, anger, joy, bravery, dedication, determination, faith, knowledge, sympathy, warmth, perseverance, sacrifice, wisdom, optimism, pessimism… the list is endless. She fits forty-eight hours within the twenty-four in hand. Every day, without a single complaint or grudge, she fulfils all her duties and even those beyond her commitments. Hopeful or despondent, life’s tribulations can never take away her positive spirits and her beautiful smile. She lives in every home. Chief mentor, motivator, planner, executor, fire fighter, doctor, soothsayer all rolled into one, she deftly manages multiple roles with equal ease. The supreme manager in every home, her absence creates an immense void that’s hard to be filled. However, we don’t stop from mercilessly killing her right within the womb. And if she manages to survive, we suppress her aspirations through a fine display of our verbal and physical powers. We do not have the courage to do it publicly, but shamelessly, behind four walls. It’s funny how we talk of gender equality at times. We shower loud praises on books and films that talk of women empowerment. In our debates and discussions, we are perfect gentlemen, singing laurels on the fair ladies. However, deep down, we still continue to cling on to certain age-old beliefs that prevent us from thinking straight. And, perhaps that’s because we know quite well that men don’t even stand a chance if compared to women. A woman in her complete glory surpasses everything that a man can ever aspire to be. And thankfully, in these modern times, more and more women are smashing male bastions with aplomb. A bold Kalki Koechlin overcame child abuse to work up her way as a successful actress. Bharti Singh stepped onto the previously held ‘male-only’ domain of stand-up comedy on stage and has been earning tremendous applause with her shows from audiences and critics. Chhavi Rajawat created history by becoming the […]

On the last day of Durga Puja, the grand and imposing idol of the goddess inched its way slowly on Red Road, Kolkata, amidst a sea of humanity. Volunteers danced with gay abandon to the sound of drums, bells and brasses and a riot of colours.

In Her ten hands, She holds myriad weapons viz. the trident, discus, conch and noose, spear, arrows, sword and shield, axe and armour, thunderbolt, and also a lotus. A majestic lion accompanies Her in an aggressive stance. Millions of onlookers watch with awe Her magnificent demeanour.

Ma Durga is believed to be the symbolic controller of all sources of energy in the universe. With the third eye on her forehead immaculately camouflaged by a tiara and maang tikka, Ma Durga is symbolic of the multifarious capabilities and power of womanhood.

She fits forty-eight hours within the twenty-four in hand. Every day, without a single complaint or grudge, she fulfils all her duties and even those beyond her commitments. Hopeful or despondent, life’s tribulations can never take away her positive spirits and her beautiful smile.

She lives in every home. Chief mentor, motivator, planner, executor, fire fighter, doctor, soothsayer all rolled into one, she deftly manages multiple roles with equal ease. The supreme manager in every home, her absence creates an immense void that’s hard to be filled.

However, we don’t stop from mercilessly killing her right within the womb. And if she manages to survive, we suppress her aspirations through a fine display of our verbal and physical powers. We do not have the courage to do it publicly, but shamelessly, behind four walls.

It’s funny how we talk of gender equality at times. We shower loud praises on books and films that talk of women empowerment. In our debates and discussions, we are perfect gentlemen, singing laurels on the fair ladies. However, deep down, we still continue to cling on to certain age-old beliefs that prevent us from thinking straight. And, perhaps that’s because we know quite well that men don’t even stand a chance if compared to women. A woman in her complete glory surpasses everything that a man can ever aspire to be.

And thankfully, in these modern times, more and more women are smashing male bastions with aplomb.

A bold Kalki Koechlin overcame child abuse to work up her way as a successful actress.

Bharti Singh stepped onto the previously held ‘male-only’ domain of stand-up comedy on stage and has been earning tremendous applause with her shows from audiences and critics.

Chhavi Rajawat created history by becoming the first female sarpanch of India in Rajasthan.

Volleyball player Arunima Singh was the first female amputee to climb Mount Everest. This was her scintillating reply to destiny which saw her thrown out of a running train by thieves, losing her leg in the bargain.

Despite being visually challenged, Beno Zephine became the first 100% blind IFS Officer in India.

The desperate need to support her family pushed Prema Ramappa to enter another ‘men-only’ club by becoming a city transport bus driver in Bangalore.

Rupa brushed aside an acid attack, and now successfully runs Rupa Designs, her own clothing line.

All these women were not born with a silver spoon. What motivated them was simply an unwavering desire to prove their worth, in their own special way.

It would have been easier to list big names viz Indra Nooyi, Malala Yousafzai, Kiran Mazumdar Shaw, Chitra Ramakrishnan, Saina Nehwal, Sania Mirza, Chanda Kochchar… the list is endless. But for every famous woman, there are many more, who are fighting their very own battles with destiny.

Exciting times are ahead and why not rise up to the occasion that celebrates this beautiful spirit of womanhood.

To begin with, how about acknowledging those very women around you, who make your life easier. This Women’s Day, a sincere “thank you” to all those lovely ladies can make a whole lot of difference.

Be grateful for her existence. Make a difference in her life. Without her, our very existence is in question.

We look forward to the times when Women’s Day celebrations would not just be limited to a day, but a continuous process every day.

]]>https://www.imsindia.com/bank-exam/blog/celebrating-modern-durga/feed/1Budget 2017: The NDA bandwagon marches onhttps://www.imsindia.com/bank-exam/blog/budget-2017-finance-bill-2017/
https://www.imsindia.com/bank-exam/blog/budget-2017-finance-bill-2017/#respondSat, 04 Mar 2017 13:08:14 +0000http://www.imsindia.com/bank-exam/blog/?p=373The Finance Bill 2017 was presented in the Indian Parliament on 1st February, 2017. The nation waited with bated breath, anticipating surprises, sops and shocks. However, Finance Minister Arun Jaitley preferred to play a steady test match rather than a slam-bang 20-20 innings. The underlying theme of Clean Up India was very much evident throughout his speech. Expectations were high, as Finance Minister, Arun Jaitley, rose to present his fourth Finance Bill for 2017-18 in Parliament. Breaking from tradition, Jaitley presented a consolidated budget wherein the Railway and General Budgets were merged in the Finance Bill, 2017. Besides, the date of tabling the Finance Bill was preponed to 1st February, 2017. This was the first time in more than 90 years that such a merger of two important Bills has been undertaken. The intention behind this is to avoid a Vote on Account as the Parliament will have enough time to debate the proposals contained in the Finance Bill and pass them well before the beginning of the Financial Year 2017-18. The other significant change has been that the Economic Survey was presented to Parliament on 31st January, 2017. Finance Bill: A few highlights The important highlights of this year’s Budget speech are as follows: We start with the most favourite issue rankling in the minds of the salaried class. The Income Tax rate for individuals has been cut to 5% from the prevailing 10%. The working class eagerly expected major changes in the tax rates. Individuals with a taxable income of more than 50 lakhs and up to Rs 1 crore will now have to pay an additional surcharge of 10%. This is over and above the existing 15% surcharge on taxable income above Rs 1 crore. Social media hype reached a crescendo just as FM Jaitley rose to present the Finance Bill. However, Jaitley failed to live up to the expectations of the humongous salaried class in India who had anticipated drastic changes in the tax rates. His primary justification for not needling the tax rates was that direct tax collection was not in sync with the income earned. Jaitley stated that Consumer Price Index had fallen from 6% in July, 2016 to 3.40% in December 2016 owing to prudent macro economic management. Inflation, which was in double digits, has been controlled; sluggish growth has been replaced by high growth. He expects inflation to be well within the RBI’s range, between 2% and 6% in the coming financial year. Current Account Deficit declined from about 1% of GDP last year to 0.3% of GDP in the first half of 2016-17. Foreign Direct Investment (FDI) increased from Rs 1,07,000 crore in the first half of last year to Rs 1,45,000 crore in the first half of 2016-17. This translates into a cover of imports of 12 months. The International Monetary Fund has projected a GDP growth of 7.2% in 2017 and 7.7% in 2018. Proposals to facilitate multi modal transport planning between railways, highways and inland waterways shall be implemented while […]

]]>The Finance Bill 2017 was presented in the Indian Parliament on 1st February, 2017. The nation waited with bated breath, anticipating surprises, sops and shocks. However, Finance Minister Arun Jaitley preferred to play a steady test match rather than a slam-bang 20-20 innings. The underlying theme of Clean Up India was very much evident throughout his speech.

Expectations were high, as Finance Minister, Arun Jaitley, rose to present his fourth Finance Bill for 2017-18 in Parliament. Breaking from tradition, Jaitley presented a consolidated budget wherein the Railway and General Budgets were merged in the Finance Bill, 2017. Besides, the date of tabling the Finance Bill was preponed to 1st February, 2017. This was the first time in more than 90 years that such a merger of two important Bills has been undertaken. The intention behind this is to avoid a Vote on Account as the Parliament will have enough time to debate the proposals contained in the Finance Bill and pass them well before the beginning of the Financial Year 2017-18. The other significant change has been that the Economic Survey was presented to Parliament on 31st January, 2017.

Finance Bill: A few highlights

The important highlights of this year’s Budget speech are as follows:

We start with the most favourite issue rankling in the minds of the salaried class. The Income Tax rate for individuals has been cut to 5% from the prevailing 10%. The working class eagerly expected major changes in the tax rates. Individuals with a taxable income of more than 50 lakhs and up to Rs 1 crore will now have to pay an additional surcharge of 10%. This is over and above the existing 15% surcharge on taxable income above Rs 1 crore. Social media hype reached a crescendo just as FM Jaitley rose to present the Finance Bill. However, Jaitley failed to live up to the expectations of the humongous salaried class in India who had anticipated drastic changes in the tax rates. His primary justification for not needling the tax rates was that direct tax collection was not in sync with the income earned.

Jaitley stated that Consumer Price Index had fallen from 6% in July, 2016 to 3.40% in December 2016 owing to prudent macro economic management. Inflation, which was in double digits, has been controlled; sluggish growth has been replaced by high growth. He expects inflation to be well within the RBI’s range, between 2% and 6% in the coming financial year.

Current Account Deficit declined from about 1% of GDP last year to 0.3% of GDP in the first half of 2016-17.

Foreign Direct Investment (FDI) increased from Rs 1,07,000 crore in the first half of last year to Rs 1,45,000 crore in the first half of 2016-17. This translates into a cover of imports of 12 months.

The International Monetary Fund has projected a GDP growth of 7.2% in 2017 and 7.7% in 2018.

Proposals to facilitate multi modal transport planning between railways, highways and inland waterways shall be implemented while retaining the functional autonomy of the Railways.

This year onwards, the Government has done away with the plan and non-plan classification of expenditure.

The motto for the coming year has been coined as “Transform, Energise and Clean India”, which is, TEC India. This agenda of TEC India seeks to Transform the quality of governance and quality of life of people, Energise various sections of society, especially the youth and the vulnerable, and enable them to unleash their true potential; and Clean the country from the evils of corruption, black money and non-transparent political funding.

Farmers

The target for agricultural credit in 2017-18 has been fixed at a record level of Rs 10 lakh crore. Special efforts shall be undertaken to ensure adequate flow of credit to the under serviced areas, the Eastern States and Jammu & Kashmir. Interest has been waived for 60 days in respect of the farmers’ loans from the cooperative credit structure.

In order to enable seamless credit to small and marginal farmers, The National Agriculture And Rural Development Board (NABARD) shall be given support for computerisation and integration of all 63,000 functional Primary Agriculture Credit Societies with the Core Banking System of District Central Cooperative Banks at an estimated cost of Rs 1900 crore.

Coverage of Fasal Bima Yojana shall be increased from 30% of cropped area in 2016-17 to 40% in 2017-18 and 50% in 2018-19 with a budgetary provision of Rs 9000 crore. For the 2016 Kharif season, the total insurance coverage is pegged at Rs 1,41,625 crore.

There are 648 Krishi Vigyan Kendras in India. Mini laboratories shall be set up in these Kendras for testing the nutrient levels of soil samples. Moreover, 1000 new mini labs shall be set up by qualified local entrepreneurs with the support of the Government through credit linked subsidy.

The corpus of Long Term Irrigation Fund under NABARD has been proposed to be hiked to Rs 40000 crore in the Finance Bill.

Optimisation of crop produce has been planned by creating a dedicated Micro Irrigation Fund under NABARD with an initial finance allocation of Rs 5000 crore.

The coverage of National Agricultural Market (e-NAM) will be expanded from the current 250 markets to 585 APMCs. Each e-NAM shall be given a financial assistance of Rs 75 lakh for establishment of cleaning, grading and packaging facilities which will add value to the farmers’ produce.

A Dairy Processing and Infrastructure Development Fund will be set up in NABARD with a corpus of Rs 8,000 crore over 3 years. Initially, the Fund will start with a corpus of Rs 2,000 crore.

Rural Population

Mission Antyodaya shall be initiated to bring one crore households out of poverty and to make 50,000 gram panchayats poverty-free by 2019 to provide focused micro plan for sustainable livelihood for every deprived household.

The government’s resolve to double the farmers’ income shall be reinforced by taking up 5 lakh farm ponds under MGNREGA for drought proofing of gram panchayats. Participation of women in MGNREGA has increased to 55% as of now. The budgetary provision for MGNREGA has been increased to Rs 48000 crore in 2017-18.

The Pradhan Mantri Gram Sadak Yojana has been provided Rs 27,000 crore for construction of roads in 2017-18 in the Finance Bill.

Allocation to Pradhan Mantri Awaas Yojana – Gramin has been increased to Rs 23000 crore for construction of 1 crore houses for the homeless and those residing in unstable houses.

In the Finance Bill, the Deendayal Upadhyaya Gram Jyoti Yojana has been allocated Rs 4814 crore for 100% electrification of villages by 1st May, 2018.

The Deendayal Antyodaya Yojana – National Rural Livelihood Mission for promotion of skill development and livelihood opportunities for people in rural areas has been allocated Rs 4,500 crore in 2017-18.

Swachh Bharat Mission (Gramin) has successfully gained inroads into the Indian villages with coverage in rural India going up from 42% in October 2014 to about 60%. Piped water supply is being provided on priority basis to Open Defecation Free villages.

With a view to impart new skills to the people in the rural areas, mason training will be provided to 20,000 persons by 2017-18 and 5 lakh persons by 2022.

The total allocation for the rural, agriculture and allied sectors in 2017-18 is Rs 1,87,223 crore.

Youth

Local innovation shall be given encouragement on 3479 educationally backward blocks by creating an Innovation Fund for Secondary Education. This will ensure universal access, gender parity and quality improvement. This will include ICT enabled learning transformation.

Reforms to the University Grants Commission shall be initiated to provide greater administrative and academic autonomy to institutions of good quality, identified on the basis of accreditation and ranking.

A digital platform “Swayam” shall be launched to enable students earn academic grades by virtually attending educational courses online. More than 350 courses shall be made available on Swayam with access to the best faculty, high quality reading resources, discussion fora, online tests etc. The reach of this platform shall be widened by linking it to DTH channels.

An autonomous and self-sustained premier National Testing Agency shall be established to conduct all entrance examinations for higher educational institutions so that CBSE, AICTE and other premier institutions can focus more on academics.

The Skill India Mission has been launched to train over 400 million people in different skills for creating a well trained workforce that aligns with the demands of employers and also with the aspirations for sustainable livelihoods. In this context, the Pradhan Mantri Kaushal Kendras shall be extended to 600 districts apart from the launch of 100 India International Skills Centres across the country. Foreign languages will also be part of academics in these Centers for youth seeking jobs abroad.

Skill Acquisition and Knowledge Awareness for Livelihood Promotion programme (SANKALP) is proposed to be launched to provide relevant training to 3.5 crore youth. A sum of Rs 4000 crore has been allocated for this programme.

Vocational training and apprenticeship programmes will get a boost through The Skill Strengthening for Industrial Value Enhancement (STRIVE) initiative to improve the quality and market relevance of vocational training provided in ITIs through industry cluster approach.

Special schemes for creating employment in textile, leather and footwear industries have been contemplated.

The Incredible India 2.0 Campaign shall be launched across the world in order to boost employment in the tourism sector through five special tourism zones in partnership with the States through Special Purpose Vehicles.

The Poor & Underprivileged

Mahila Shakti Kendra will be set up at village level with an allocation of Rs 500 crore in 14 lakh ICDS Anganwadi Centres for empowering rural women with opportunities for skill development, employment, digital literacy, health and nutrition.

Pregnant women who undergo institutional delivery and vaccinate their children shall be paid Rs 6000 each by direct transfer to their bank account.

Infrastructure Status will be given to Affordable housing projects. This will enable these projects to avail the associated benefits.

5 lakh Health Sub Centres will be transformed into Health and Wellness Centres and a concentrated approach will be implemented to eliminate Kala-Azar,Filariasis, Leprosy,Tuberculosis and Measles over the next four years.

It is proposed to create additional 5,000 Post Graduate seats per annum for ensuring availability of specialist doctors. DNB courses shall be commenced in big District Hospitals. Post Graduate Faculty shall be strengthened in select ESI and Municipal Corporation Hospitals. Reputed Private Hospitals shall be encouraged to start DNB courses. In this regard, two new AIIMS shall be set up in Jharkhand and Gujarat.

New welfare schemes for Scheduled Castes, Scheduled Tribes and Minorities are on the anvil. The NITI Ayog shall monitor the expenditure on these schemes.

Senior Citizens shall benefit from Aadhar based smart cards which will contain information on their health. The Life Insurance Corporation of India shall launch a plan for senior citizens that would provide pension with a guaranteed return of 8% per annum for ten years.

Infrastructure

Investments in railways, roads, waterways and civil aviation shall be synergised. The Rashtriya Rail Sanraksha Kosh shall be created for passenger safety. Unmanned level crossings on Broad Gauge lines will be eliminated by 2020. 25 railway stations are slated for redevelopment and 500 stations shall be made compatible for the differently-abled with the help of lifts and escalators. 7000 stations shall be fed with solar power. Emphasis on cleanliness shall be boosted through the SMS-based Clean My Coach Service, Coach Mitra facility, introduction of bio toilets in all coaches and solid waste management. Railways will implement an end-to-end integrated transport solution through partnership for front and back end connectivity. Service charge on e-tickets booked online has been withdrawn.

Select airports in Tier 2 cities will be taken up for operation and maintenance in the PPP mode.

For transportation sector as a whole, including rail, roads, shipping, a sum of Rs 2,41,387 crore has been provided for, in 2017-18.

In the telecom sector, 155000 km of Optical Fibre Cables have been laid under the BharatNet project. A sum of Rs 10000 crore has been allocated for this initiative to ensure high speed broadband connectivity to 150000 gram panchayats. A DigiGaon initiative will be launched to provide telemedicine, education and skills through digital technology.

With an intention of creating a global hub for electronics manufacturing in India, the allocation for incentive schemes viz. M-SIPS and EDF shall be increased to Rs 745 crore.

The second phase of Solar Park development has been planned with an additional capacity of 20,000 MW.

To boost exports, a new scheme, Trade Infrastructure for Export Scheme (TIES), will be launched.

The total allocation for infrastructure development in 2017-18 stands at Rs 3,96,135 crore.

Financial Sector

The Foreign Investment Promotion Board is set to be abolished in 2017-18.

An operational and legal framework shall be set up to integrate spot market and derivatives market for commodities trading.

Regulatory gaps in the Multi State Cooperative Societies Act shall be amended to curb the menace of illegal deposit schemes.

Amendments to the Arbitration and Conciliation Act 1996, shall be initiated to streamline institutional arrangements for resolution of disputes in infrastructure related construction contracts, PPP and public utility contracts.

A Computer Emergency Response Team for our Financial Sector (CERT-Fin) will be established to safeguard the integrity and stability of the financial sector.

Public Sector Undertakings and Public Sector Enterprises like IRCTC, IRFC and IRCON are proposed to be listed in Stock Exchanges.

It is proposed to create an integrated public sector ‘oil major’, which will be able to match the performance of international and domestic private sector oil and gas companies.

A new Exchange Traded Fund with diversified CPSE stocks and other Government holdings will be launched in 2017-18.

An amount of Rs 10000 crore has been allocated for recapitalisation of banks.

The lending target for Pradhan Mantri Mudra Yojana for funding the unfunded and underfunded has been set at Rs 2.44 lakh crore with priority lending for Dalits, Tribals, Backward Classes, Minorities and Women.

The Government will launch two new schemes to promote the usage of BHIM app, viz. Referral Bonus Scheme for individuals and a Cashback Scheme for merchants.

Aadhar Pay, a merchant version of Aadhar Enabled Payment System, will be launched shortly. This will be specifically beneficial for those who do not have debit cards, mobile wallets and mobile phones. A mission will be set up with a target of 2,500 crore digital transactions for 2017-18 through UPI, USSD, Aadhar Pay, IMPS and debit cards. Banks have targeted to introduce additional 10 lakh new PoS terminals by March 2017. They will be encouraged to introduce 20 lakh Aadhar based PoS by September 2017.

Public Service

Head Post Offices shall be used as front offices for rendering passport services.

A Centralised Defence Travel System has now been developed through which travel tickets can be booked online by armed forces personnel. A comprehensive web based interactive Pension Disbursement System for Defence Pensioners will be established.

Government recruitment shall be streamlined through a system of single registration and two tier system of examination.

Introduction of legislative changes to confiscate the assets of economic offenders fleeing the country, located within the country, till they submit to the jurisdiction of the appropriate legal forum.

Prudent Fiscal Management

Classification of Planned and Non-Planned expenditure abolished.

A provision of Rs 3,000 crore has been made under the Department of Economic Affairs to implement various Budget announcements and other 26 new schemes in 2017-18.

For Defence expenditure, excluding pensions, a sum of Rs 2,74,114 crore has been allocated, including Rs 86,488 crore for Defence capital. Allocation for Scientific Ministries shall be upped to Rs 37,435 crore in 2017-18.

Fiscal deficit for 2017-18 shall be pegged at 3.2% of GDP and 3% in 2018-19. Revenue deficit stands at 1.90%.

TAX PROPOSALS

Changes in the profit-linked income tax exemption for promoters of affordable housing scheme have been envisaged. First of all, instead of built-up area of 30 and 60 square metres, the carpet area of 30 and 60 square metres will be counted. Also a limit of 30 square metres will apply only in case of municipal limits of 4 metropolitan cities while for the rest of the country, including the peripheral areas of metros, a limit of 60 square metres will apply. In order to be eligible, the scheme was to be completed in 3 years after commencement. This time limit has now been extended to 5 years.

Tax relief has beenproposed for real estate developers on unsold stock. Now, the liability to pay capital gains on inventories will arise only in the year a project is completed.

The holding period, for considering gain from immovable property as long term, is proposed to be reduced to 2 years. The base year for indexation is proposed to be shifted from 1.4.1981 to 1.4.2001 for all classes of assets including immovable property.

The concessional rate of 5% on interest earned by foreign entities in external commercial borrowings or in bonds and government securities has been extended up to 30.6.2020. This benefit is also extended to Rupee Denominated (Masala) Bonds.

Income tax rate for smaller companies, with annual turnover up to Rs 50 crore, has been reduced to 25%.

The allowable provision for Non-Performing Asset for Banks has been upped to 8.5%.

Basic customs duty on LNG has been reduced to 2.5%.

The presumptive income of small and medium tax payers whose turnover is up to Rs 2 crore is proposed to be reduced to 6%.

Cash expenditure allowable as deduction, both for revenue as well as capital expenditure has been proposed to be limited to 10,000. Further, donations received by charitable trusts in cash have been restricted to Rs 2000. No cash transaction shall be permitted above Rs 300,000.

Donations to political parties in cash shall not be permitted above Rs 2000.

Commission payments to insurance agents shall not be subject to TDS if Form 15H is submitted.

A new scheme for presumptive taxation for professionals with a receipt of up to Rs 50 lakh pa is proposed to be introduced.

The above proposals actually brought a sense of relief to the equity markets since it was expected that FM Jaitley would capitalise on the opportunity provided by impending legislative assembly elections in some states and launch populist schemes. But that was not to be. On the other hand, the salaried class had expected more bang from ‘the Finance Bill’ but all went in vain. Overall, Jaitley has kept the momentum of Clean Up India going, thereby, building higher expectations from next year’s Finance Bill.

]]>https://www.imsindia.com/bank-exam/blog/budget-2017-finance-bill-2017/feed/0SBI PO registrations: FAQshttps://www.imsindia.com/bank-exam/blog/sbi-po-registrations-faq/
https://www.imsindia.com/bank-exam/blog/sbi-po-registrations-faq/#respondSat, 18 Feb 2017 10:59:03 +0000http://www.imsindia.com/bank-exam/blog/?p=391State Bank of India has released their notification for recruitment of Probationary Officers (PO) for 2403 vacancies in various branches of the bank across the country on February 6, 2017. Online registration for SBI PO commenced on February 7, and the last date is March 6, 2017. To make the entire registration process easier for you, we have put together a few frequently asked questions (FAQs) for SBI PO. Q. What is the eligibility criterion? Age limit: 21 to 30 years only (as on April 1, 2017) Essential educational qualification: Graduation in any discipline from a recognised university or any equivalent qualification recognised by the Central Government. Those who are in the final year / semester of their graduation may also apply, if called for interview. However, they will have to provide a proof of having passed the graduation examination on or before July 1, 2017. Record of default: Candidates having a record of default in repayment of loans or credit card dues are not eligible. Q. What is the last date for online applications for SBI PO 2017? The online registration will conclude on March 6, 2017. Do ensure to register before the deadline. When will the SBI PO exam be conducted? The Preliminary Examination (Prelims) for SBI PO 2017 will be conducted on April 29 and April 30, 2017, and May 6 and May 7, 2017. The Main Examination of SBI PO will be conducted on June 4, 2017. How many vacancies have been announced? The following table lists the number of vacancies announced. General 1010 OBC 606 ST 350 TOTAL 2313 Vacancies (PWD) OH 25 HI 25 VI 40 TOTAL 90 What is the category code in the application form? While filling out your online registration form, you need to mention the following category codes: Code Category Code Category 01 SC 09 OBC 02 SC (OH) 10 OBC (OH) 03 SC (VI) 11 OBC (VI) 04 SC (HI) 12 OBC (HI) 05 ST 13 GEN 06 ST (OH) 14 GEN (OH) 07 ST (VI) 15 GEN (VI) 08 ST (HI) 16 GEN (HI) What is the SBI policy for the number of attempts? Category No. of chances General 4 OBC 7 General (PWD)/ OBC (PWD) 7 SC/ SC (PWD)/ ST/ ST (PWD) No Restrictions Please note: The number of chances will be counted from the examination held on April 18, 2010. Also, appearing in Preliminary Examinations will not be counted as a chance. What is the selection process for SBI PO? The various stages of the SBI PO are as follows: Preliminary exam Mains exam Group Exercises and Personal Interview How can I apply for the SBI PO exam? Aspirants have to register online through the bank’s website www.sbi.co.in/careers. As soon as the registration is completed, the students have to pay the application fees through online mode by using debit card / credit card / internet banking options. What is the application fee? The application fee is Rs 600 for General category and OBC, and Rs 100 for SC/ […]

]]>State Bank of India has released their notification for recruitment of Probationary Officers (PO) for 2403 vacancies in various branches of the bank across the country on February 6, 2017. Online registration for SBI PO commenced on February 7, and the last date is March 6, 2017.

To make the entire registration process easier for you, we have put together a few frequently asked questions (FAQs) for SBI PO.

Q. What is the eligibility criterion?

Age limit: 21 to 30 years only (as on April 1, 2017)

Essential educational qualification: Graduation in any discipline from a recognised university or any equivalent qualification recognised by the Central Government. Those who are in the final year / semester of their graduation may also apply, if called for interview. However, they will have to provide a proof of having passed the graduation examination on or before July 1, 2017.

Record of default: Candidates having a record of default in repayment of loans or credit card dues are not eligible.

Q. What is the last date for online applications for SBI PO 2017?

The online registration will conclude on March 6, 2017. Do ensure to register before the deadline.

When will the SBI PO exam be conducted?

The Preliminary Examination (Prelims) for SBI PO 2017 will be conducted on April 29 and April 30, 2017, and May 6 and May 7, 2017.

The Main Examination of SBI PO will be conducted on June 4, 2017.

How many vacancies have been announced?

The following table lists the number of vacancies announced.

General

1010

OBC

606

ST

350

TOTAL

2313

Vacancies (PWD)

OH

25

HI

25

VI

40

TOTAL

90

What is the category code in the application form?

While filling out your online registration form, you need to mention the following category codes:

Code

Category

Code

Category

01

SC

09

OBC

02

SC (OH)

10

OBC (OH)

03

SC (VI)

11

OBC (VI)

04

SC (HI)

12

OBC (HI)

05

ST

13

GEN

06

ST (OH)

14

GEN (OH)

07

ST (VI)

15

GEN (VI)

08

ST (HI)

16

GEN (HI)

What is the SBI policy for the number of attempts?

Category

No. of chances

General

4

OBC

7

General (PWD)/ OBC (PWD)

7

SC/ SC (PWD)/ ST/ ST (PWD)

No Restrictions

Please note: The number of chances will be counted from the examination held on April 18, 2010. Also, appearing in Preliminary Examinations will not be counted as a chance.

What is the selection process for SBI PO?

The various stages of the SBI PO are as follows:

Preliminary exam

Mains exam

Group Exercises and Personal Interview

How can I apply for the SBI PO exam?

Aspirants have to register online through the bank’s website www.sbi.co.in/careers. As soon as the registration is completed, the students have to pay the application fees through online mode by using debit card / credit card / internet banking options.

What is the application fee?

The application fee is Rs 600 for General category and OBC, and Rs 100 for SC/ ST/ PWD category.

If I have a query, whom should I call?

SBI has made a helpline number available for candidates who have any doubts. Any queries related to filling up the form, payment of fees, or receipt of admission/call letter, candidates can call on 022-22820427 (between 11 AM to 6 PM on working days). They can also drop in their query on cgrs.ibps.in.

]]>https://www.imsindia.com/bank-exam/blog/sbi-po-registrations-faq/feed/0A career in Banking: Move up in life!https://www.imsindia.com/bank-exam/blog/choose-career-banking-move-life/
https://www.imsindia.com/bank-exam/blog/choose-career-banking-move-life/#commentsSat, 18 Feb 2017 09:13:44 +0000http://www.imsindia.com/bank-exam/blog/?p=385As the crimson rays of the morning sun gently lift the veil of mist across the park, Raghuvir Sinha steps up his pace to catch up with his long-time walking mate, Jayendra Mhatre. Retirement had eased their hectic lives after a long and eventful banking career. The habitual morning walk was among the highlights of their now sedate lifestyle. With children settled in good jobs in banks, time was at a discount for trivial tasks each day. “Sorry, I’m late,” said Sinha, as he fell into step beside Mhatre. “Last night, Swati returned from work at 10 pm! Day-end run didn’t tally, it seems. I was so worried.” Mhatre nodded sympathetically. “Nowadays, banking jobs is not like what we went through, Raghuvir. We got away with a lot of allowances. These days, systems and processes are very stringent.” “But I like the enthusiasm of the new generation of bankers,” mused Sinha. “This whole computerisation has crunched turnaround times. Performance benchmarks are high. A Probationary Officer like Swati has a vast range of responsibilities, something which we couldn’t imagine during our days. If you perform well, you can really climb the professional ladder quickly!” “Why? What are they expecting from a PO?” asked Mhatre, curious. “Buddy, nowadays a PO in a bank is an all-rounder. If you set aside the initial period, where they train you to work in all sections of the bank, an officer is effectively a manager-cum-clerk! From customer transactions like authorising inward cheques, scrolling, posting, draft issuance, cash management to broader functions like public relations, customer complaints, handling account issues, supervising the clerks, handling loan related documentation, visiting sites to customer offices/factories, issuing ATM cards, cheque books — oh, I could go on and on!-A PO, now designated as an Assistant Manager, is expected to do quite a lot! Those who show keen interest and enthusiasm in their work are assigned more important responsibilities like budgeting, marketing and treasury management.” “Wow, that is exciting!” said Mhatre, a former general manager himself. “In my days, I had to struggle so much to climb the ladder!” “Yeah, me too,” Sinha replied. “But these days a banking career is very lucrative. Hard work is rewarded. Besides, you get to meet so many people across the country, wherever you’re transferred. Every town or city has a beauty of its own! Don’t you agree?” “I heard that there is a superannuation benefit too!” exclaimed Mhatre. “Just imagine, pension till you are alive! Which other profession gives such a wonderful perk?” “I’m glad we opted for the right career. And Swati is well on her way to become an AGM soon!” said Sinha proudly. Mhatre nodded his agreement. “Yes, your daughter is extremely competent. I must suggest this career to my niece too. This is the right time for her to launch her banking career.” “Then why don’t you tell her about State Bank of India’s notification for Probationary Officers?” said Sinha. “That’s just been released. The forms will be available till 6th March, 2017 and […]

]]>As the crimson rays of the morning sun gently lift the veil of mist across the park, Raghuvir Sinha steps up his pace to catch up with his long-time walking mate, Jayendra Mhatre. Retirement had eased their hectic lives after a long and eventful banking career. The habitual morning walk was among the highlights of their now sedate lifestyle. With children settled in good jobs in banks, time was at a discount for trivial tasks each day.

“Sorry, I’m late,” said Sinha, as he fell into step beside Mhatre. “Last night, Swati returned from work at 10 pm! Day-end run didn’t tally, it seems. I was so worried.”

Mhatre nodded sympathetically. “Nowadays, banking jobs is not like what we went through, Raghuvir. We got away with a lot of allowances. These days, systems and processes are very stringent.”

“But I like the enthusiasm of the new generation of bankers,” mused Sinha. “This whole computerisation has crunched turnaround times. Performance benchmarks are high. A Probationary Officer like Swati has a vast range of responsibilities, something which we couldn’t imagine during our days. If you perform well, you can really climb the professional ladder quickly!”

“Why? What are they expecting from a PO?” asked Mhatre, curious.

“Buddy, nowadays a PO in a bank is an all-rounder. If you set aside the initial period, where they train you to work in all sections of the bank, an officer is effectively a manager-cum-clerk! From customer transactions like authorising inward cheques, scrolling, posting, draft issuance, cash management to broader functions like public relations, customer complaints, handling account issues, supervising the clerks, handling loan related documentation, visiting sites to customer offices/factories, issuing ATM cards, cheque books — oh, I could go on and on!-A PO, now designated as an Assistant Manager, is expected to do quite a lot! Those who show keen interest and enthusiasm in their work are assigned more important responsibilities like budgeting, marketing and treasury management.”

“Wow, that is exciting!” said Mhatre, a former general manager himself. “In my days, I had to struggle so much to climb the ladder!”

“Yeah, me too,” Sinha replied. “But these days a banking career is very lucrative. Hard work is rewarded. Besides, you get to meet so many people across the country, wherever you’re transferred. Every town or city has a beauty of its own! Don’t you agree?”

“I heard that there is a superannuation benefit too!” exclaimed Mhatre. “Just imagine, pension till you are alive! Which other profession gives such a wonderful perk?”

“I’m glad we opted for the right career. And Swati is well on her way to become an AGM soon!” said Sinha proudly.

Mhatre nodded his agreement. “Yes, your daughter is extremely competent. I must suggest this career to my niece too. This is the right time for her to launch her banking career.”

“Then why don’t you tell her about State Bank of India’s notification for Probationary Officers?” said Sinha. “That’s just been released. The forms will be available till 6th March, 2017 and the last date for submission of the form is 6th March itself.”

“And what about the exam? When’s that?”

“Well, the Preliminary Exams are scheduled to be held on 29th & 30th April, 2017 and the Main Exam is on 4th June, 2017.”

“That’s excellent then,” quipped Mhatre. “By the way, what qualifications do you need these days to appear for the exam?”

“The admission criteria hasn’t changed much since our days,” replied Sinha. “You have to be a graduate in any discipline from a recognised University, that’s what they need. Even students who are studying in their final year or their last semester of their graduation can apply on a provisional basis, on the condition that they can produce proof eventually of having passed the graduation exam.”

Test Format

The two of them walked slowly towards their local tea stall, where they would spend some time sipping their usual cup of evening tea. A question occurred to Mhatre.

“What is SBI’s test format?” he asked, wondering whether the entrance tests had changed since he had first attempted them, long ago.

“The usual,” replied Sinha. “The Preliminary Examination consists of Objective Tests for 100 marks, and it will be conducted online. The duration of the test is one hour, and the test consists of three sections, English Language, Quantitative Aptitude and Reasoning Ability.”

Mhatre was listening intently. “Alright. And what about the Mains?”

“The Main Examination comprises an Objective Test for 200 marks and a Descriptive Test for 50 marks,” replied Sinha. “Both these tests are online. The Objective Test is of 3 hours’ duration, with four sections, and there’s separate timing for every section. Candidates have to qualify in each of the tests by securing passing marks, which will be decided by SBI. Questions on Reasoning & Computer Aptitude, Data Analysis & Interpretation, General Knowledge, Economics, Banking Awareness and English Language are usually asked. The Descriptive Test paper, of 30 minutes duration, will be on 50 marks. There is a test of English Language, which will involve Letter Writing and Essay.”

Counselling & Mentoring for a Career in Banking

“My goodness!” exclaimed Mhatre. “Times have certainly changed. I guess the competition has become so much tougher that students need professional coaching to ensure they are successful!”

“Obviously,” replied Sinha. “Swati was thoroughly coached by IMS. Their experienced faculty ensured that she was properly mentored and trained to crack the tests. In fact, did you know, IMS had conducted a National Scholarship Test across the country on 12th February, 2017? Selected candidates had won free coaching for all bank entrance exams! They also stood a chance to win prizes worth lakhs and 100% discount on fees!”

Mhatre was gaping at Sinha. “100%?”

“Free, Mhatre, free!” exclaimed Sinha. “Can you beat that?”

“I am going to tell my niece as soon as I get hoe to visit the local IMS center and make an auspicious start to a successful banking career,” said Mhatre.

]]>https://www.imsindia.com/bank-exam/blog/choose-career-banking-move-life/feed/1Top tips to tackle exam Jittershttps://www.imsindia.com/bank-exam/blog/tackling-pre-exam-jitters/
https://www.imsindia.com/bank-exam/blog/tackling-pre-exam-jitters/#respondThu, 16 Feb 2017 11:30:56 +0000http://www.imsindia.com/bank-exam/blog/?p=388Exam Day! You wake up early on the morning of your exam. You are eager to give it your best shot. Over the last few months you have burned the candle on both ends. The stock of candles at the local grocer has been exhausted, thanks to you! Today’s the day, you decide. I’m going to rock it! A creepy thought crawls up in your mind. English grammar! The bomb explodes, you see stars and sparkling dots in your eyes. Each dot seems to say something. Articles. Prepositions. Phrases. Idioms. Synomyms. Antonyms. Oh my goodness! Direct speech? Indirect speech?? Holy Cow! Reading comprehension? Have I missed something? Oh yes, of course! Quant. Data Interpretation. Mensuration. Ratio and Proportion. I feel like I’m on a highway to hell. You feel bullet trains of cold sweat race down your back. The butterflies emerge from a remote corner of your intestine. It is party time for their gang. You shove aside all these thoughts. The newspaper screams about the demonetisation drive. You begin to read the report. Words seem to be flying around the page. You want to rush to the toilet. You relieve yourself and take a deep breath as you rinse your hands. Your dry hands start sweating. Your legs begin to quiver. You grab your morning cup of coffee. You decide to revise once more. The coffee mug sulks. You pick up your study material. An ocean of words drowns you. You keep it aside. You start pacing up and down the room. Your heart is pounding incessantly on the walls of your rib cage. Somehow you manage to get dressed. You don’t wish to eat anything. Your temper shrinks as you pick up your essentials and move out towards your exam centre. You argue with the auto driver over petty change. You reach the centre and see people in the throes of last minute revision. You try to ape them. Nothing registers. It is a lost battle, you tell yourself mournfully. The bell rings. Tsunami alert! You take your assigned seat. The invigilator shoves up the question paper on your face. The words “Game Over!” flash on the screen of your mind. You aren’t even able to read the paper. You make feeble attempts to remember what you had studied. The sweat pours like never before. Your fingers tremble. Your throat is parched. You want to puke. Familiar scene? All of us have gone through this a few times in our lives, and you certainly aren’t the only one! You can avoid all this very easily. Here are a few tips. Follow them and see your confidence soaring! Tip #1: Plan your studies for the exam. Probably you are a working grad. Your study time is sacrosanct, whatever time of the day. Stick to it, come rain or shine. List down all the topics you have to cover. Chalk up a time table and the topics you plan to master each day. Over your study period, you just need to […]

You wake up early on the morning of your exam. You are eager to give it your best shot. Over the last few months you have burned the candle on both ends. The stock of candles at the local grocer has been exhausted, thanks to you!

You pick up your study material. An ocean of words drowns you. You keep it aside. You start pacing up and down the room. Your heart is pounding incessantly on the walls of your rib cage.

Somehow you manage to get dressed. You don’t wish to eat anything. Your temper shrinks as you pick up your essentials and move out towards your exam centre. You argue with the auto driver over petty change.

You reach the centre and see people in the throes of last minute revision. You try to ape them. Nothing registers. It is a lost battle, you tell yourself mournfully.

The bell rings. Tsunami alert! You take your assigned seat. The invigilator shoves up the question paper on your face.

The words “Game Over!” flash on the screen of your mind. You aren’t even able to read the paper. You make feeble attempts to remember what you had studied. The sweat pours like never before. Your fingers tremble. Your throat is parched. You want to puke.

Familiar scene? All of us have gone through this a few times in our lives, and you certainly aren’t the only one! You can avoid all this very easily. Here are a few tips. Follow them and see your confidence soaring!

Tip #1: Plan your studies for the exam.

Probably you are a working grad. Your study time is sacrosanct, whatever time of the day. Stick to it, come rain or shine. List down all the topics you have to cover. Chalk up a time table and the topics you plan to master each day. Over your study period, you just need to cover the entire syllabus.

Tip #2: Do an outdoor session regularly.

Tip #3: Believe in yourself.

You have made it pretty well so far in life. The best is yet to come! Your mind is a powerhouse, and you can control it as you want. How desperate are you to get that bank job? You have to be extremely focussed. Be on top of your mind. If you think positive, floods of positive thoughts will come back to you. You have it in you to stand up to challenges. Tell yourself, “Ha! I am not going to be bogged down by a silly exam! Bring it on!”

Tip #4: Get inspired.

Tip #5: Be consistent.

Gradually progress with your study plan. Be consistent. One day off every now and then is fine, but beware. Lethargy is contagious. More of such days will disrupt your plan. Challenge yourself. Make a comprehensive list of all the topics you need to master. Tackle each one at a time and you should be well prepared before D-day. It helps to have a mentor like IMS to guide you through this journey.

Tip#6: The night before…

The night before the exam, eat light. Sleep early. Breathe. Wake up early. Go through your daily chores with a song. Breathe. Eat a good healthy breakfast. Listen to your favourite songs. Reach the centre with a carefree mind. You have prepared well. You will crack it soon enough. You can already visualise your selection letter in your hands.

Tip #7: Learn from your mistakes.

It always helps to document your mistakes so that you are aware of the pitfalls. Analyse your strengths. Work on your weaknesses. Take regular mock tests. You will be able to gauge improvements in your performance gradually. IMS provides all these and more. Walk in to your nearest IMS centre and take the first step towards your success!

Tip #8: Dream of the future!

Visualise yourself working in a bank. Imagine what a great achievement that would be! How elated your family would be. Remember, there is no limit to what you can achieve. Impossible is a word in the dictionary of fools.